National Energy gives port users deadline for $610m debt

THE National Energy Corporation (NEC) is seeking to recover millions of dollars in outstanding fees from users of its ports and piers. The corporation said some of these fees have been overdue for more than 120 days.

In a statement issued on October 1, NEC said the total arrears now exceed $610 million.

For years, the company continued, several users have been delinquent in making payments for access to the nation’s tugs, port, and pier infrastructure.

NEC said these revenues are critical to the economy. The corporation, a wholly owned subsidiary of the National Gas Company, said this state of affairs cannot continue.

"Over the past two weeks, formal notices were issued to users with significant arrears, warning that failure to clear balances would result in the suspension of access to facilities."

NEC said, "Users were then given an additional 14 days to settle their accounts."

Since the enforcement measures took effect, the corporation continued, over $35 million has already been recovered.

NEC is headed by president Vernon Paltoo while Nigel Woodsley is the manager of ports and terminal operations.

According to its website, National Energy offers an integrated platform of marine services from multiple locations which includes the management and operation of three industrial ports: Port of Galeota on the south-east coast; Port of Brighton on the south-western peninsular; and ISCOTT Dock on the south-eastern end of the Point Lisas harbour.

The corporation assured that it remains committed to providing safe and reliable port services.

NEC said users must meet their financial obligations to ensure the continued benefit of all stakeholders and the wider economy.